(Archive) GOLD 15.0 April 2015

April 19, 2015

 

Member Facing

Show Members Their Credit Score in Online Banking

You can now share with members a history of the credit scores you have on file for them, by activating a new Credit Score History page in online banking. The idea here is to allow you to be transparent about what your records show, but more importantly, to start a conversation with a member who is curious about their score and how your credit union uses it.

You can decide which scores will show, based on how long ago they were pulled, as well as how far back you want the scores history to go.  Members who don’t have recent scores on file will instead see a message that encourages them to contact the credit union to find out more.

You can configure instructions to appear on the page as well as a link to your website to provide whatever credit education or marketing you’d like. There’s even a new Smart Message you can activate to encourage members to check out the new feature.

You’ve paid for the score. Why not use it to get your member’s attention, give them a bit of education, and then tell them how you can use that score to build a loan just for them?  

Online Banking Reminds Members When They Have Not Changed their Password in the Last 30 Days

We all know it is a good practice to encourage members to change their passwords regularly. Now friendly reminders will be built right into online banking!

Currently there is a way to expire unused passwords, but as long as the member consistently logs in, there is no way to force them to change their password.  With this release we are introducing a middle ground option.  It’s Me 247 will now display an automated “soft” warning message to members that will encourage them to change their password more frequently, without making it mandatory.  

Members will also be able to view their selections on a new “Password Change History” page available from the “Info Center” section in online banking.

Refer to the “Auditing” section to see how this is recorded in CU*BASE.

Members Access eStatements via a Relabeled “My Documents” Button

CU*Answers continues to be ahead of the curve with its commitment to eDocument development.  Watch for more advances in this area soon.

With this release, the formerly-named “eStatements” button will be relabeled “My Documents.”  This is due to the changing focus of what can be accessed from this selection.  From this access point, members will access their eStatements, your online newsletter (if offered), and their My Virtual Strongbox.

SSO to My Virtual StrongBox Lets Members Save Critical Documents Securely via Online Banking

My Virtual StrongBox is an online safe deposit box where members can conveniently save their important documents, such as wills, mortgages, tax documents, and more—all safely and securely.  With this release CU*Answers has created a new single sign-on link that lets members jump directly to My Virtual StrongBox from It’s Me 247.

To get started, first contact My Virtual StrongBox to learn more and obtain pricing information.  Contact information, a link to the authorization form, and the fax number are all included in the “My Virtual StrongBox” brochure.  Once you have an implementation date, submit your authorization form and we’ll take care of activating the SSO in online banking for your members.

Members Can Track their Progress to Qualify for Higher Dividend Rate in Online Banking  

With the Qualified Dividend feature you can tie checking dividend applications with specific eligibility requirements, then set up two rate schedules:  the qualified rate schedule and the base rate for non-qualified accounts, which can even be set to 0% if you wish.  Starting with the 14.2 CU*BASE release in September 2014, you could begin selling these products in your online banking rate board.

With the 15.0 release credit unions who offer Qualified dividends using the CU*BASE configuration can provide status updates to members via It’s Me 247.  Members will be able to log in and see live, real-time updates showing how their monthly activity is tracking towards the requirements for the higher rate.  

Activate the feature by checking “Allow members to see current status via online banking” in the Qualified Dividend configuration, accessed right from the Share Dividend configuration (Share Products on the Savings Products menu).  

Once the online tracking feature is activated, members will see a   indicator on the Account Summary page.  From there they select to view the status of the account.

Enhancement to Account to Account (A2A) Transfers Made In Online Banking

Beginning with this release, members making Account to Account (A2A) transfers in online banking now must check a box in front of the sentence “I authorize the credit union to initiate an electronic transaction to the financial institution indicated above."

After they click the “I authorize this transfer” button (already existing), they will then move to a new screen which gives them the option to print the transaction.

Our Network is Getting Larger!  Three Additional Time Zones Now Supported

With this release we have added support for the Alaskan, Hawaii, and Transatlantic time zones.  So if you happen to visit the Alaska credit union that recently joined our network, you will see this reflected on your receipt.

Lending/Collections

Refer to the “CEO/Management” section for a list of lending reports that are now included in the Report Scheduler feature.  Several of these reports are used for participation loan processing.

Introducing Enhanced Tools for Written-Off Loans

Be sure not to miss the training on this feature led by our experts in CU*Answers Collections Services.  

The CU*BASE Loan Write-off feature has always provided a way for credit unions to reclassify underperforming loans without giving up the ability to continue collecting on the loan and reduce your potential losses.

This project takes the process to a whole new level.  In addition to further automating and streamlining the procedure, now when loans are written off the system will take a snapshot of the loan status at time of write-off.  This new history will allow for more detailed trend analysis, including funds collected while the loan was at a write-off status.

The new tool also includes a separate function for automating the charge-off and account closing for uncollectible loans, including all related G/L entries.  As with write-offs, the system will take a snapshot of loan status details for use in historical tracking and analysis.  

The new Write-off/Charge-off dashboard (accessed via the new Ln Write-off/Charge-off History on the Management Analysis Dashboards 1 (MNMGMD) menu) will let you monitor these loans for board approvals and compliance with your policies.  It also gives your lending management valuable insight into your credit union’s efforts to manage balance sheet examiner concerns and your overall loan yield.

More information will be available in the Write-Off/Charge-Off Tools” booklet available on the CU*BASE Reference Page under “W.”  

Detailed Soft Pull of Credit Score is Now Supported

With this release we now support a new credit score pull type: a detailed soft pull.  Currently available for TransUnion subscribers only, but we’re already working on future enhancements for Experian users, too.

CU*BASE Sends Emails Each Time a Loan Status is Changed

This was implemented as the result of numerous Idea Forms.

Now lending team members can receive an email whenever an underwriting code is changed on a pending loan application.  Underwriters can be notified when there’s something to approve, and lenders can be Johnny-on-the-spot to give members the good news once the approval comes through.  You choose which underwriting codes prompt the notifications, and to which email address they are sent (we recommend you set up distribution email groups that you can adjust as your team changes).

Timestamp Added to Underwriter Audit Report

This was implemented as the result of an Idea form.

Currently there is no easy way to track exactly how long it takes a loan to be processed.  With this release a new “Time” column will be added to the far right of the Underwriter Audit Report (Underwriter Audit Report on the Reports D (MNRPTD) menu).

While we were at it we added a multiple select for Employee ID so it is easy to run the report for several employees at a time.

Denial Reasons Added to Loan Application Detail Report

This change was implemented at the request of an Idea form.

The Loan Application Detail Report gives a detailed outline of your lending department's activities.  With the 15.0 release, the report will be expanded to show the reasons or comments from the denial.  To access this report select Loan Application Analysis on the Reports D (MNRPTD) menu and then click the Detail button.

New Export Allows You to Create a File of the Loans Packaged for Sale Report

Currently you can print a report from the Package Loans to be Sold detail screen (accessed on the Management Analysis Dashboards 1 (MNMGMD) menu).  With 15.0, you can also export the report data to a file.  From the detail screen use the updated Print/Export Selected (F14) button.  From these use the new Export Report Data (F10) button.  

Changes to Credit Card Interest Rate Handling

Due to the nature of credit cards where the interest rates reside at the detail level for purchases, advances, and balance transfers, it is necessary for the account (MEMBER record) interest rate to remain at zero to eliminate issues with reporting, dashboard information, etc.

Because some clients include a base rate in their product configuration as a way of advertising the product rates in online banking, some credit card accounts may have defaulted the rate in at the time of the loan request. For credit card products, when creating a new loan request we will now set the interest rate to zero regardless of the product configuration, and we’ve added necessary edits on all screens to eliminate user entry of an interest rate other than zero. That way you can continue to configure a base rate for the purposes of advertising in online banking, but will no longer have bad data affecting your reports.

Remember, since credit cards may have different rates at the bucket level, we recommend that you put the rate detail in the member sales info and leave the base rate at zero. The member sales info is configurable in the loan product configuration for products that have been enabled for display in online banking.  

CEO/Management

“Common Bonds” Analysis – Analyze the Features of Any Group

The “Common Bonds” feature allows you to take the groups of members that you’ve gathered using a dashboard and analyze them based on what they have in common – what accounts they all have, what demographic characteristics they share, and even how their credit scores compare.

With this release we have added a standalone feature to access the common bonds analyses, allowing you to analyze those same common bonds for any group of members you want.  Simply enter a file name with member account numbers and select Common Bonds for Mbr Grp on the Active Beta Tests (MNMGMT) menu.

With this release, we have also added “Tiered Service Analysis” to the common bonds feature.  This analyzes your group according to the Targeted Tiered Service Analysis screens, which compare your selected group to all members across all Tiered Scoring analyses (Summary and Goals 1 to 5) so you can find out things like eStatement enrollment, online banking use, and more.

Fee Income Waiver/Fee Refund Dashboards Added to the Active Beta Menu

Currently the Fee Income/Waiver Analysis shows information on the number and dollar amount of your fee waivers. However, no detail is provided as to who performed the waiver, at which branch it was performed, or what G/L was affected, nor can you see the impact of after-the-fact fee refunds posted by your employees.  

With this release, new features are being added to this dashboard, which can now be accessed via Fee Income/Waivers/Refunds on the Active Beta Tests (MNMGMT) menu:

Fourteen New Reports Added to the Report Scheduler Feature

With the 12.1 CU*BASE Release in July 2012 twenty-one reports were configured to support the Report Scheduler feature.  This time-saving feature allows you to set and save filters for commonly-run reports and even have them run automatically by our Operations staff on the first of the month.

With this release we introduce the second phase and fourteen new reports including the previously-mentioned Cross Sales Report. This brings the total reports with this feature to 35 reports!  Below is a listing of the new reports we have added with this release.

Tools for Gathering 5300 Data Can All Be Accessed from One Location

Currently reports used to gather data for the 5300 Call Report are found on many different menus.   New with this release, you can also find them grouped on the existing 5300 Call Report Tools (MN5300) menu.

Report Enhancements for the 5300 Call Report

Loan Maturity Report Enhancements

With this release we have updated the Loan Maturity report to allow selection of the “length of time to maturity from” not only the current date, but also the loan’s original term or review date (next adjustment date).  This flexibility of date selection for the matured calculation better meets NCUA requirements for reporting loans outstanding on the real estate loan schedule of the 5300 Call Report. Additionally, the report can now be filtered according to the lease or balloon setting.  

This report can be found via the Loan Maturity Analysis on the Reports D (MNRPTD) menu and now also via the Print Investment Maturity Report on the 5300 Call Report Tools (MN5300) menu).

NCUA Share Insurance Reports Enhancements

The NCUA Share Insurance Report separates out business and government accounts for the uninsured accounts calculation.  Per the NCUA, business and government accounts are insured separately from the other ownership types, i.e. singly-held, jointly-held, IRAs, etc.  Refer to the NCUA site for detailed information on NCUA Share Insurance.  These changes appear in the selection criteria, two new reports and new sections in the summary report.

In addition, you can now mask a specific number of SSN/TIN digits for display on the detail reports.  

This report can be found via NCUA Share Insurance Report on the Reports D (MNRPTD) menu) and now also on the 5300 Call Report Tools (MN5300) menu.

Investment Maturity Report Enhancements

We have enhanced the Investment Maturity Report to default to the ranges used for the 5300 Call Report.  Now there is no need to manually enter them each quarter.  (You can always enter other ranges if needed.)  We have also adjusted the selection used for the maturity calculation.  Now, you will first indicate whether to use the investment maturity or review date, and then indicate the starting date used for the maturity/months calculation.    

Per credit union request, the report now includes the investment rate and an average investment rate for each of the maturity terms.

This report can be found via Print Investment Maturity Report on the Investments (MNINVS) menu) and now also on the 5300 Call Report Tools (MN5300) menu.

New Handling Instructions for Late Statement Inserts  

One of the most time-consuming and labor-intensive steps in monthly statement processing is following up with credit unions whose marketing inserts arrive late at the statement print vendor.  Is the insert critical enough where you want to delay your statements until it arrives?  The answer is usually no, but until now we had no way to know that for sure without tracking down someone at the credit union authorized to make the decision.  With the 15.0 release a new “Instructions for late arrival” column on the Statement Inserts/Mailing screen allows you to indicate your preference for each insert with the selections of Proceed or Wait.  If you choose Wait for any individual insert, your statements will not be processed until that insert arrives.  

IMPORTANT:  If you choose Proceed and your inserts are late, your statements will still be run after all other credit unions’ statements are processed. This is due to the automated processing programming that must be done in advance of the main print runs. But because we already know your preference we’ll no longer need to delay even longer while we track someone down and find out what you’d like us to do.   

Easier Way to Collect Fees for Statement Styles

The statement styles feature (Config Styles Available to Members on the Internet Member Services (MNCNFE) menu) allows you to charge a member for a specific statement type (such as large print).  This feature can also be used to charge all members who receive a paper statement.  Currently, you can specify a single Dividend Application from which to pull the fee.  With this release, if the funds are not available from the configured Dividend Application, the program will now look to other accounts of that same type, then pull funds from the base share account in an attempt to collect the fee.  If a member does not happen to have an account for that Dividend Application, or if there are insufficient funds for the entire fee, fees will automatically be pulled from the base share.

Select the Frequency on the Loan Maturity Analysis (on the All Accounts Dashboard Screens)

Now when you are on the Loan Maturity Dashboard (the seventh account analysis screen in the All Account Dashboards accessed via All Accounts Analysis Dashboard on the Management Analysis Dashboards 1 (MNMGMD) menu), you will be able to control which aging periods you wish to analyze.  Use Select Frequency (F13) to group loans according to the # of weeks or # of years until maturity, in addition to the default setting (# of months until maturity).

Export to PDF and Export to Excel Features Added to Nine Additional Dashboards

The Export to PDF and Export to Excel features that are available on many dashboards are a favorite feature for many clients in management and leadership positions.  Using them you can export the data to a full-color PDF or for use in spreadsheet applications.

With this release we have added the Excel and PDF exports to nine existing dashboards.  Their names and access points are listed below.

Export to File and Member Connect Feature Added to the Credit Score History Analysis

In addition to the Excel and PDF exports mentioned above, we have added the Export button to the Credit Score History Analysis (Credit Score History Dashboard on the Management Processing/Active Beta Tests (MNMGMT) menu).  Once the button is selected, an additional screen appears allowing you to export the only account numbers (for use with Member Connect) or export the account detail (for use with query).

Marketing/Sales

Enter Your eStatement Notification Message in One Location – and Customize the Subject Line!

With this release we are separating the configuration of eStatements from the writing of the notification emails text.  This allows you to give access to maintain the email message only and not the configuration. Going forward you will use only Update Monthly eStatement Emails on the Member Communications (MNPRTC) menu to compose the notification message.  As an added bonus, you can now change the subject line that appears on your eStatement email messages!

Cross Sales Enhancements Allow You to Evaluate Program Incentive Costs

The Cross Sales Analysis Report (Cross Sales Analysis Report on the Member Tracker Tools (MNTRAK) menu) allows you to analyze data in your referral programs.  With this release we have made some changes to make it an even more effective tool, including most importantly the ability to enter an incentive amount so you can calculate the costs associated with a cross sales incentive program.

If you don’t feel like using a printed report, we have also added a new online Cross Sales Analysis dashboard (available via the Active Beta Tests (MNMGMT) menu) to allow you to do “what if” calculations on incentive amounts based on need group and task with a “Total incentive” at the bottom of the listing.  

Now you can play what-if scenarios to estimate the costs associated with different incentive programs you might be considering.  

(Future plans include a configurable matrix for standing incentive amounts as well as a standalone dashboard for employees to see only their own activities and status. Stay tuned!)

Teller/Member Service

Stop Payments on Credit Cards Now Allowed in CU*BASE

This enhancement was implemented because of a suggestion submitted with an Idea Form.

With the 15.0 release stop payments on credit card checks (sometimes referred to as “courtesy checks”) will be allowed, but only via CU*BASE.  Members who wish to request a stop pay must still contact their credit union.  Fees for this service will need to be charged separately.

Enhancements to Comply with IRS Required Minimum Distribution Calculations

Our calculation for IRA required minimum distributions is now fully compliant with IRS parameters.  This affected the RMD Inquiry and RMD Payout options.

The enhancements apply only to a sole beneficiary who is a spouse and is over ten years younger than the primary account holder. Additionally there is no longer a redetermination choice since redetermination is applicable in all cases.

QualiFile Risk Assessments Can Be Run When Adding a Non-Member as a Joint Owner or Beneficiary

This enhancement was implemented because of a suggestion submitted with an Idea Form.

Currently you can run a QualiFile Risk Assessment on a member, but not on a non-member.  With this release, you will now be able to run a scan on non-members when they are added as a joint owner or beneficiary during the creation or update of a membership.  For the scan, CU*BASE evaluates the non-member using the ChexSystems configuration for the branch of the associated member.

Last Ten Accounts Lookup Feature Added to Two Transaction Reversal Screens

This enhancement was implemented because of a suggestion submitted with an Idea Form.

Now when you reverse a transaction it is easy to find the last few accounts you serviced.  The “last ten account” lookup has been added to two screens: Same Day Reverse Trans/Adj Drawer and Transaction Reversal (both accessed on the Member Account Adjustment Tools (MNADJ) menu).  

Calculate an Average Daily Balance over a Range Other than Sixty Days

Currently, you when you print a Verification of Deposit form, CU*BASE calculates the member’s average daily balance over sixty days.  Now when you print the form via Phone Operator, you can input a number of days up to 180 days.  Refer to online help for an explanation on how CU*BASE handles the calculation if the number entered is greater or less than the actual number of days in the transaction history file.  If you have configured a Verification of Deposit form, the form will show the number of days you entered on the screen.

eStatement Enrollment and Unenrollment Date Now View Only

When you enroll or unenroll a member from eStatements, CU*BASE will no longer allow for the input of a date.  This allows tighter controls to ensure the current date is always used and will prevent some of the problems that occur when the date gets inadvertently changed. More information will be available in the “Getting Started with eStatements” booklet available on the CU*BASE Reference Page under “E.”  This booklet will be updated with the release.  

Transaction Description for Debt Protection Altered to Remove the Word “Fee”

This enhancement was implemented because of a suggestion submitted with an Idea Form.

Currently when CU*BASE posts premiums for debt protection, the following transaction descriptions appear on the member’s statement: SINGLE DEBT PRO FEE, JOINT DEBT PRO FEE, BLENDED DEBT PRO FEE, and CO-BORROWER DEBT PRO.  With this release, we are clarifying the descriptions and removing the word “fee.”  The new transaction descriptions will be: DBT PROTECTN-SINGLE, DBT PROTECTN-JOINT, DBT PROTECTN-BLENDED, and DBT PROTECTN-COBORRW.

Audit

Several features covered in other sections of this document apply to auditors as well:

CU*BASE Tracks When a Member Declines to Change Their Online Banking Password

Currently the existing Password Change History log (Mbr PIN/Password Change History on the Miscellaneous Processing (MNMISC) menu) lists all the times a member changes their online banking password.

With this release, members will be asked every thirty days to change their online banking password.  The presentation of this reminder and the member’s response (change or skip) will be all recorded in the Password Change History log.  Refer to the “Member Facing” section for what the member sees in online banking.

Link to ID: https://help.cubase.org/cubase/cubase.htm#whats_new_archive_04_15.htm